"This news was previously reported, but BABA stock still sold off 2% on the news that Joseph Tsai will take over as chairman. "
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"Alibaba , the Chinese internet giant, also was in the spotlight after announcing that its CEO and chairman will step down to focus on the cloud division, with Brooklyn Nets owner Joseph Tsai becoming chairman."
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"Liu will keep running the company until his replacement is found, Alibaba Vice Chairman Joseph Tsai told staff in a memo Wednesday."
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"We remain as committed to SCMP's mission as ever," Vice Chairman Joseph Tsai said in the memo."
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"Following the fine, Vice Chairman Joseph Tsai told investors the company was "happy to get the matter behind us," and that it's unaware of any other probes into its businesses."
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"We experienced this scrutiny and we're happy to get this matter behind us," Vice Chairman Joseph Tsai told analysts. "
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